Merseyside Special Investment Fund (MSIF) has received a £5m allocation from the latest round of the Regional Growth Fund (RGF).

The funder, which supports high risk small firm, is now accepting applications for its new High Growth Business Investment Programme which enables it to invest £75,000 to £1m, by way of grants.

Finance can be used for businesses wanting to expand or relocate in the Liverpool city region and create, or preserve, jobs here.

This can include capital to fund new premises and the extension or upgrade of premises, as well as investment for new equipment.

Additional related expenditure on training, research and development, and employing disabled or disadvantaged workers can also be included.

The grant provided through this fund can total up to 20% of the overall project cost with the remainder coming from other sources of finance, or applicants’ own funds.

MSIF’s chief operating officer Lisa Greenhalgh said: “This funding will support businesses with larger expansion projects and complements the Merseyside Jobs and Growth Fund being managed by St Helens Chamber which will provide grants of up to £75,000 for smaller developments.

“The grant can contribute 20% of the total cost of a project, however, we can look at providing additional investment via MSIF’s other loan funds, to fund part, or all, of the overall finance package required.

“We were delighted to be successful in our bid to manage this latest round of RGF which further strengthens our offering.”

She added: “MSIF has been investing in the area for 21 years and we have an impressive track record of supporting businesses through various growth stages.

“Many of the businesses MSIF supported have gone on to become bigger employers which has significantly benefited the local economy.

“It is important for investors, whether public or private sector, to see that the money is being invested by organisations that have the knowledge and experience to make sound investments.”

MSIF has invested more than £157m in over 1,800 businesses which has created/safeguarded more than 14,500 jobs and brought in over £291m of private sector investment to the region.